USDZAR

(Last Updated June 5, 2020)

Hello! This is the news page for USDZAR. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

A trend/countertrend situation exists on USDZAR, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.

USDZAR Moving Averages

USDZAR’s moving averages tell a multi-facted story about its trend. The 100 and 200 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 20 and 50 day averages that imply a bearish trend. This implies that the long-term trend — meaning going back over 3 months — is bullish, while the trend over the past month and a half is bearish.

Below is a chart showing USDZAR’s price with its moving averages.

As for correlation, In terms of correlations over the past week for USDZAR, it has demonstrated the strongest correlation with ZARJPY. USDZAR has been most correlated with ZARJPY over the past 14 days also, so this may be a structural correlation in the market. Alternatively, EURCAD has been the asset least correlated with USDZAR — but over the past two weeks, the asset least correlated with USDZAR has been EURGBP. See the chart below to observe the recent price action in USDZAR versus those of assets it hasn’t been well correlated with.